detroit does not have any problem that is 100% unique to detroit. however, it has a scale that is unprecedented, as well as -- it seems to have all of the problems, not just one or two. in the case of like a birmingham or the county that has declared a see their -- that has declared bankruptcy there, it is because of a specific bad investment, a municipal job that went awry and they lost billions of dollars. detroit is really tied to attention problems, and that is unique -- detroit is really tied to its pension problems, and that is unique, and especially scary to americans. as heidi and i discussed many times, this is either a cautionary tale or a blueprint for other cities. we have to wait and watch. there is all of these unknowns happening right now. detroit is certainly not completely unique in its issues. guest: just to follow-up on that, in terms of scale, the second-largest accuracy, jefferson county -- second- largest bankruptcy, jefferson county, alabama, that was long- term by police, $4.5 billion. are $20s liabilities billion-plus. it co